Chris Buys Houses Fast in VA

And everywhere nationwide, buying Houses Fast anywhere in Virginia and the US

Sell your House Fast in a Divorce

No one plans to divorce, at least not a first.  In fact, many sellers contact us because their dream home has been shattered because of divorce.

To ease the pain and help you get on with life, we can help you sell your house quick and get on with life.

You will be relieved that we can buy your house quickly.

It helps us if you and your spouse still communicate.

We find that having to work through your divorce attorney simply gets in the way.

We can still work through your divorce lawyer, but it’s simply easier if you and your spouse (or ex spouse, or soon to be ex) can cooperate long enough without having to work through your divorce attorneys.

Let’s take the burden of your house off your hands in a divorce!

You can Get offers from us in 24 hours.

Sell Your House fast

If you want to sell your home fast – you have several options.

  • Fisbo — sell it for sale by owner.
  • Discounter who only lists in the MLS but you do the marketing
  • With an agent —

Do you want to sell your house FAST?

With your these options, here is what to expect

  • Make all the expensive repairs to make the house show well (new carpet, fresh paint, fix all the broken faucets, etc).
  • 6 more mortgage payments.  Days on market is upwards now of 6 months in many places in Virginia.
  • Expenses to advertise your home for sale, unless you use a full service agent.  Example: A Sunday ad in the Richmond Times Dispatch for 4 lines runs $70.  I have paid upwards of $300 for one ad on a weekend.
  • Seller assistance $5K.  Sellers are now expected to contribute closing costs.
  • 3% closing fees (transfer taxes, lawyer fees).
  • 6% commission if you use a realtor.
  • More repair expenses after the inspection.

I have anecdotal evidence from some sellers that have paid upwards of $40,000 transaction costs to sell their house after making all the repairs, paying an agent, and assisting with closing.

That’s not FAST, and that’s very Expensive.

How to sell your House Fast.

The easiest way to sell your home quickly is to unload it with an investor.    We’ll buy it as is, where is, and in most cases, we’ll pay most if not all the closing costs.  The key to selling to an investor is the right price.  You determine what price you need and we’ll see if we can unload the house for you.

With an investor, you can get a fixed date for closing, typically in under 30 days (no more mortgage payments).  We buy as is, meaning no repairs, and best of all, you don’t have to pay for a realtor.

If you are in central Virginia and want an offer on your home, check out this video on how to call us.

 

Richmond joins record drop in home prices

From the February 14, 2008 Richmond Times Dispatch:

Richmond joins record drop in home prices

Richmond was one of a record number of U.S. metropolitan areas where home prices fell in the fourth quarter, according to a report just out from the National Association of Realtors.

The report released this morning shows the median sales price for a home in Richmond was $225,700, a decrease of 1.6 percent from $229,400 in the fourth quarter of 2006.

Study says Va. ranked 24th in 2007 foreclosures – News – inRich.com

The foreclosure rate in Virginia remains fast and swift.  However, in a nationwide ranking, Virginia ranked right in the middle.  I guess that is good news.

Study says Va. ranked 24th in 2007 foreclosures – News – inRich.com

Hopefully, our ranking will go down with some of the loan modification agreements that the major lenders are working on.

I’ve seen huge surge in people calling us to sell their house to avoid foreclosure. 

Pricing reality in the Williamsburg Virginia Housing Market.

Here is a take on real estate in the Williamsburg area from January 26, 2008  Virginia Gazette.

The Virginia Association of Realtors said home sales statewide fell 15% from 2006 to 2007. While home values continued to grow, by a little over 1%, they grew at a slower rate than they have on average over the last 30 years, more than 6%.

Indeed, during the housing boom of the last few years, the state experienced double-digit growth in home values.

Time on market in Virginia increased from 70 days to 88 days statewide, still below the historical average of 90 days.

Locally, the median price of a home in greater Williamsburg fell from $318,745 in 2006 to $295,000 in 2007 (see box).

Sales were off 12.5%.

However, average days on market hadn’t changed, it was 71 days each year, still up markedly from 56 days in 2004.

Linda Kinsman, executive director the Williamsburg Area Association of Realtors, put things in perspective.
“ Over the last five years the average price of a home here has increased 29 percent,” she said.

Hard times seem to be on the way — VAGazette.com (Link Broken)

Housing outlook unchanged – Richmond, Virginia

Here is a recent update on the "Housing Market" in Richmond.  The Richmond Times Dispatch January 25, 2008

Highlights:

The housing market in central Virginia is not likely to improve until the end of this year, housing experts say.

House sales in Virginia and the Richmond area fell last year — 15 percent for the state and 12 percent for the region — much like they did nationally, according to figures released yesterday by the Realtors’ association.

The median price of a single-family home fell to $217,800 in 2007, down 1.8 percent from 2006. The median is the midpoint, with half the homes selling for more and half for less.

Houses statewide stayed on the market an average of 88 days, up from 70 days in 2006. In the Richmond area, it took an average 58 days to sell a home, up from 46 days in 2006.

Source: Housing outlook unchanged – Richmond, Virginia, Business News and Financial Information – inRich.com

Housing 101 a helpful class

From the Dec 30th Richmond Times Dispatch.  Housing 101 a helpful class – News – inRich.com

From the related information file:

Worried about foreclosure? Don’t ignore the problem.

The further behind you get, the harder it will be to reinstate your loan and the more likely that you will lose your house.

Contact your lender as soon as you realize you may be in trouble. Lenders have options to help borrowers through difficult times.

Open your mail. The first notices you get from your lender will offer good information about foreclosure prevention options.

Later mail may include information about pending legal action.

Failure to open the mail will not be an excuse in foreclosure court.

Know your mortgage rights.

Find your loan documents and read them so you know what your lender may do if you can’t make payments. Learn about the foreclosure laws in your state. Understand foreclosure-prevention options.

If you decide to sell your house as your solution to falling behind on payments, Get offers from us in 24 hours.

Avoid_Foreclosure_Virginia_04

 

Article: Virginia Foreclosures Rising

In the Dec 23 Richmond Times Dispatch, there was an article entitled: Virginia Foreclosures Rising.

Here are a few quotes:

The number of foreclosures in Virginia is expected to rise to about 14,000 this year, up from 4,354 in 2006, and could hit 20,000 next year, according to Housing Opportunities Made Equal Inc., a housing advocacy group in Richmond.

Virginia has one of the fastest foreclosure processes in the country, said Connie Chamberlin, president and chief executive officer of HOME.

Once a lender notifies a borrower of the intent to foreclose, a person can lose their home in as quickly as two weeks, she said. “For many people, that means they don’t have time to deal with the issue.”

Because Virginia’s process is so fast, there is very little time to deal with it.

Selling your house Fast is one quick way to address the foreclosure process.

You can Get offers from us in 24 hours.

Avoid Foreclosure

Housing Market: Housing Prices continue to fall nationwide

The Washington Post reported that the median price for a house in the United States has declined 4.5%.  Read it at ‘No Real Positive News’ Seen As Home Prices Continue to Fall – washingtonpost.com.

We talk with sellers on a regular basis that want to sell their house fast.

However, a home sellers expectation is sometimes the full price at last year’s market value.

Simply put, that’s not economically feasible for us.

How do we put a price on a house?  It’s simple.  We deal with people who know what they want.  If that price is doable for us, its a fair price.

A house is worth what two people agree its worth when you have to sell your house fast.

 

Feature: Local Family Postpones Foreclosure.

Monday November 19, Dreams In Distress focused on a Chesterfield family that is facing foreclosure because of their subprime mortgage adjusting.

“They are among the estimated 14,000 Virginia households facing foreclosure this year.”

Their payment adjusted from $1,250 to $1,650, making the house no longer affordable.  They are hoping for a loan modification, but there is no guarantee of success.

The only way out is to refinance, but options – as the Lovings discovered – are few.

. . . . . . . .

The Lovings tried repeatedly to get in touch with their lender. “Send more money, send more money,” they said they were told.

They got the subprime loan because their credit was damaged years ago when they went on a debt-management plan to pay off $30,000 in credit-card debt.

They were locked into their original mortgage because it carried a hefty prepayment penalty.

As soon as the penalty phase passed, they looked into refinancing. “At least a dozen lenders turned us down,” Scott said.

They found one taker. The payoff on the old loan — a combo ARM and fixed-rate mortgage – was $137,000.

They walked away with another ARM. This one was for $161,000, which increased their debt. It included $4,000 in cash. Fees and closing costs totaled $20,000.

“We didn’t feel we had any choice,” Scott said.

The new payment is $1,623, not much better than the $1,650 payment on the old loan. “But we had a fresh start,” he said.

The initial interest rate on the new loan is 9.8 percent, 0.1 percent better than the old loan. It, too, has a prepayment penalty — 5 percent of the loan amount. It resets next June.

The Lovings kept up with their new payments for a few months. Then one payment was put into escrow and the Lovings were one month behind.

Repeated calls to the lender solved nothing. When the couple received notice of a foreclosure sale, they turned to Housing Opportunities Made Equal.

“You can breathe,” they said their HOME counselor told them. She had been able to do what they couldn’t – open a line of communication with the lender.

“We’re in limbo,” Scott said, as they wait to find out if their lender will work with them. “We should find out right before Christmas if we can keep our house.”

A 60-day extension was secured on the foreclosure so the Lovings could ask the lender to modify the terms of the loan.

“Banks are really stepping up, but for many, it’s a day late and a dollar short,” said Ann Estes, vice president for ClearPoint Financial Solutions, a nonprofit consumer credit-counseling agency based in Richmond.

The Lovings hang on to the hope that it isn’t too late – that they can keep their house and make payments they can afford.

For others looking at a loan reset, get into a fixed-rate loan and do it today, Estes said. “Don’t put it off.”

Virginia’s foreclosure process is brutally fast.  This is another reason the number appears to be so low.  They are processed much quicker here than in other states.

If your house is falling behind in payments, we can help you sell your house quickly to avoid foreclosure.

Give us a call at 804/719-1489, or get your offers from us in 24 hours.